Inception IBD raises $14.1M, partners with Celgene

Inception IBD Inc. (Montreal, Quebec) raised $14.1 million in a series A round led by Versant Ventures. Other investors included Fonds de solidarite FTQ and Inserm Transfert Initiative.

The company, which Versant incubated at its Inception Sciences facility, also announced a deal with Celgene Corp. (NASDAQ:CELG) to discover and develop therapeutics for ulcerative colitis and Crohn's disease. Inception IBD is eligible for up to $40 million in cash payments and Celgene obtained a right to acquire the company. Terms and timelines were not disclosed. ...